Executive Summary
The client is one of the top five protein manufacturers in the world based out of the US.
Business Challenge
- Demand forecasting complexity for both frozen and fresh products with lower shelf life making it difficult to balance actual and forecasted inventories throughout the planning period.
- Reliance on Excel-based workflow for demand planning allowing human errors and faulty planning.
- There was a need for a tailored migration strategy for each business division rather than the same strategy being followed by all divisions.
- Statistical forecasting was a standalone process with supply planning system required manual efforts to corelate both.
Business Challenge
- Demand forecasting complexity for both frozen and fresh products with lower shelf life making it difficult to balance actual and forecasted inventories throughout the planning period.
- Reliance on Excel-based workflow for demand planning allowing human errors and faulty planning.
- There was a need for a tailored migration strategy for each business division rather than the same strategy being followed by all divisions.
- Statistical forecasting was a standalone process with supply planning system required manual efforts to corelate both.
Our Solution
- Implementation of integrated business templating for seamless interface between different users and business divisions.
- Application of statistical forecasting techniques and pre-processing of actual data with utilization of auto-clustering methods to enhance accuracy of forecasts.
- Integration with planning systems to facilitate forecast orders and conduct actual vs forecast analysis
- Seamless integration with SAP system for master data management
- Management of material expiration, distinguishing between Fresh and Frozen goods
Key Results And Benefits
- Enhanced forecast precision leading to elevated service levels and enhanced inventory control.
- Increased effectiveness in creating production plans and heightened visibility in the supply chain.
- Elevated customer satisfaction through tailored fulfillments based on customer class and timely handling of expiration orders.
- Cost reduction and margin improvement through inventory management, optimized stock transfers, accurate production mix, and controlled downgrade impact.
About ITC Infotech
ITC Infotech is a leading global technology services and solutions provider, led by Business and Technology Consulting. ITC Infotech provides business-friendly solutions to help clients succeed and be future-ready, by seamlessly bringing together digital expertise, strong industry specific alliances and the unique ability to leverage deep domain expertise from ITC Group businesses. ITC Infotech is a wholly owned subsidiary of ITC Ltd., a 100-plus-year-old diversified conglomerate with businesses spanning Hotels, Consumer Goods, Paperboards & Packaging, Agri Business, and Information Technology. ITC Ltd. has been in the hospitality business for over 4 decades. It has over 100 properties across 70+ destinations. The hospitality practice at ITC Infotech is 800+ people strong and most have experience in the hospitality domain leading to a high-quality IT service experience for its hospitality customers.
